World on terror in 2001, world on Russia in 2022. Sticky inflation, explosive dollar and a tech bubble. And a housing crisis brewing? Not a recipe for success. I don't understand why anyone would expect actual, long-term growth from this exact point.
The chart above shows something peculiar. We have bearishly tried to escape the ribbon and failed (for now?). Also the recent peak occurred in the 1.272 extension of 2000 peak, to 2009 bottom. A brief blow-off top in Dec.21 killed any hope of further growth. We have tremendous resistance above us, are we up for the task? Do we have heaps of money or are we over-leveraged from the 2-year party we had?
Also look at this peculiar era. A linear channel that barely deviated from its course shaped the previous years. And now we lost all support. A long-term rising channel isn't very bullish for me. We have analyzed it with many many methods, that since the GFC we are experiencing RSI Divergence (RSI printing lower highs, price printing higher highs).
Tread lightly, for this is hallowed ground. -Father Grigori
PS: I <3 HL2
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Mind the gap
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Why has NYA taken such a peculiar shape the past couple of years? It is very squashed upwards, like a ball, and is moving very fast downwards. Very weird...
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Not looking good mate... not a good way to close a 3 month candle...
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Update: Pattern taken from November 2000
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LAST MAN STANDING
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There is a reason I tell you to tread lightly. Do you have an exit strategy?
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No turning back now! RSI can be an early-warning tool for price. RSI created a H&S pattern. Failed to sustain above the trendline. Down we go!
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The many Heads and Shoulders appearing in the main indices. NDQ vs DJI